A federal judge signed off on a $2.43 billion settlement by Bank of America Corp. to resolve claims that it misled investors ahead of its acquisition of brokerage firm Merrill Lynch & Co. during the financial crisis.
The payment is the largest settlement of shareholder claims by a financial firm since the downturn rocked the U.S. economy, led to the bankruptcy of Lehman Brothers Holdings Inc. and nearly caused the collapse of Merrill Lynch and other financial companies.
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